First Lady Michelle Obama welcomes four more fashionable years in recycled Michael Kors

On Tuesday night, the people of America declared Barack Obama their President for a second term, meaning fashion fans have another four years of enjoying the first lady’s invariably fantastic wardrobe.

And Michelle Obama kicked off her husband’s second term in style, joining him on stage to celebrate his win over Mitt Romney sporting a burgundy brocade Michael Kors sheath A-line dress that she topped off with a black tailored stretch shrug.

More astute fashion watchers will have recognised the dress – Michelle has wowed in the designer creation twice before. She showed off the simple yet stunning design in December 2009, for a White House holiday party. And In November 2010, she chose the frock for the Medal of Honour presentation ceremony.

She shone bright in the metallic number – a more pared down option than the memorable black and red Narciso Rodriguez dress that she wore on Election Night in 2008.

There was also a noticeable difference with the couple’s children, Malia and Sasha. Taller and more gorgeous than ever, the girls managed to steal some of their mother’s fashion spotlight in cute, bright coloured skirts paired with little jumpers.

The fashion industry is likely to be delighted with Tuesday’s result. Several designers, including Marc Jacobs and Tony Burch, contributed items to Runway to Win, a fundraising scheme for Mr Obama’s re-election effort.

And in his victory speech, Mr Obama recognised not only the fashion world, but the country’s affection for his wife, telling her: “I have never loved you more, I have never been prouder to watch the rest of America fall in love with you, too, as the nation’s First Lady.”

Meanwhile, Ann Romney also looked ultra glamorous as her husband conceded the election, showing off a red, three-quarter length sleeve shift dress that she accessorised with a chunky necklace and black pumps.

Tuesday night saw what was deemed by many the closest presidential race in recent US. history. The president claimed victory at 4.20am UK time as projections showed he had won the key battleground state of Ohio, which held the key to amassing the 270 electoral college votes needed to win.

Minutes after his victory was announced, the president tweeted: “We’re all in this together. That’s how we campaigned, and that’s who we are. Thank you.” He also posted a picture of himself embracing his wife Michelle with the caption “Four more years” – and the post rapidly became the most popular tweet of all time.

In his victory speech in Chicago, the 44th president said he had “never been more hopeful about America”.

“We believe in a generous America, in a compassionate America, in a tolerant America,” Obama said to a cheering crowd. “I return to the White House more determined and more inspired than ever. Tonight you voted for action, not politics as usual,” he said.

“Despite all the hardship we’ve been through… I’ve never been more hopeful about our future, and I ask you to sustain that hope.”

During the speech, the president thanked “the best vice president anyone could ask for”, Joe Biden and dedicated some tender words to his wife and two daughters.

“I wouldn’t be the man I am today without the woman who agreed to marry me 20 years ago. Let me say this publicly: Michelle, I have never loved you more. I have never been prouder to watch the rest of America fall in love with you, too, as our nation’s first lady. Sasha and Malia, before our very eyes you’re growing up to become two strong, smart beautiful young women, just like your mom. And I’m so proud of you guys.”

Barack is set to celebrate his win with a star-studded party featuring Stevie Wonder, Mary J Blige, Ashley Judd, Melanie Griffith and Will.i.Am.